McKerlie v Drillsearch Energy Ltd [2009] NSWSC 497

New South Wales Supreme Court

CITATION : McKerlie v Drillsearch Energy Ltd [2009] NSWSC 497 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 02/06/09

JUDGMENT DATE : 2 June 2009

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

EX TEMPORE JUDGMENT DATE : 2 June 2009

DECISION : Leave to file originating process refused. Leave to be joined as defendant refused.

CATCHWORDS : CORPORATIONS - takeover - statutory embargo on commencement of court proceedings in relation to a takeover bid - takeover bid on foot - application made by bidder to Takeovers Panel for relief - bidder seeks to commence new court proceeding - bidder seeks injunction until determination of Takeovers Panel - whether proceedings "in relation to a takeover bid"

LEGISLATION CITED : Corporations Act 2001 (Cth), Chapter 6, ss 657A, 657D(2), 659B(1)

CATEGORY : Principal judgment

CASES CITED : Bulfin v Bebarfald's Ltd (1938) 38 SR (NSW) 423 Lionsgate Australia Pty Ltd v Macquarie Private Portfolio Management Ltd [2007] NSWSC 318; (2007) 210 FLR 106

James David McKerlie - First Plaintiff Glenluce Properties Pty Limited - Second Plaintiff Drillsearch Energy Limited - First Defendant PARTIES : Peter Penfold Simpson - Second Defendant Peter Alan Wicks - Third Defendant Russell David Langusch - Fourth Defendant Beach Petroleum Limited - Applicant

FILE NUMBER(S) : SC 3009/09

Mr R G McHugh SC/Mr N M Bender - Plaintiffs Mr P C Silver - First Defendant COUNSEL : Mr G L Turner - Second Defendant Mr J W Meehan, Solicitor - Third and Fourth Defendants Mr A J Sullivan QC/Mr D R Sulan - Applicant